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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK index of services advanced as expected in December
On a monthly basis in the UK, the index of services rose 0.80% in December, at par with market expectations. The index of services had advanced 0.90% in the September-November 2016 period.
UK exports advanced more than expected in 4Q 2016
In 4Q 2016, on a QoQ basis, the preliminary exports in the UK climbed 4.10%, more than market expectations for an advance of 2.00%. Exports had recorded a drop of 2.60% in the previous quarter.
UK total business investment surprisingly fell in 4Q 2016
On a QoQ basis, in the UK, the preliminary total business investment unexpectedly eased 1.00% in 4Q 2016, less than market expectations for a rise of 0.10%. In the previous quarter, total business investment had climbed 0.70%.
UK private consumption advanced as expected in 4Q 2016
On a QoQ basis, in the UK, the flash private consumption recorded a rise of 0.70% in 4Q 2016, at par with market expectations. Private consumption had registered a similar rise in the prior quarter.
UK GDP advanced less than expected in 4Q 2016
The second estimate of gross domestic product (GDP) in the UK advanced 2.00% on a YoY basis in 4Q 2016, less than market expectations for a rise of 2.20%. The preliminary figures had recorded an advance of 2.20%. In the prior quarter, GDP had registered a rise of 2.20%.
UK total business investment recorded an unexpected drop in 4Q 2016
In the UK, the preliminary total business investment unexpectedly eased 0.90% on an annual basis in 4Q 2016, lower than market expectations for a rise of 0.30%. In the prior quarter, total business investment had registered a drop of 2.30%.
UK index of services advanced more than expected in December
On a MoM basis, the index of services climbed 0.20% in December, in the UK, higher than market expectations for a rise of 0.10%. In the previous month, the index of services had climbed 0.30%.
UK GDP rose more than expected in 4Q 2016
The second estimate of GDP climbed 0.70% on a quarterly basis in the UK, in 4Q 2016, compared to a rise of 0.60% in the prior quarter. Market expectation was for GDP to advance 0.60%. The preliminary figures had indicated an advance of 0.60%.
UK imports unexpectedly eased in 4Q 2016
In 4Q 2016, the preliminary imports in the UK unexpectedly eased 0.40% on a QoQ basis, lower than market expectations for an advance of 0.30%. Imports had climbed 1.40% in the previous quarter.
UK gross fixed capital formation remained flat in 4Q 2016
In the UK, the flash gross fixed capital formation remained steady on a quarterly basis in 4Q 2016, less than market expectations for a rise of 0.20%. In the prior quarter, gross fixed capital formation had registered a rise of 0.90%.
UK government spending rose more than expected in 4Q 2016
The preliminary government spending rose 0.20% on a quarterly basis in the UK, in 4Q 2016, compared to an unchanged reading in the previous quarter. Markets were anticipating government spending to rise 0.10%.
Euro-zone CPI rose as expected in January
On an annual basis in the Euro-zone, the final consumer price index (CPI) recorded a rise of 1.80% in January, in line with market expectations. In the prior month, the CPI had climbed 1.10%. The preliminary figures had also recorded a rise of 1.80%.
Euro-zone CPI dropped as expected in January
In January, the CPI dropped 0.80% on a MoM basis in the Euro-zone, in line with market expectations. The CPI had recorded a rise of 0.50% in the prior month.
Euro-zone core CPI advanced as expected in January
On an annual basis, the final core CPI advanced 0.90% in the Euro-zone, compared to a similar rise in the prior month. Market expectation was for the core CPI to advance 0.90%. The preliminary figures had also indicated an advance of 0.90%.
German Ifo business expectations index rose unexpectedly in February
The Ifo business expectations index recorded an unexpected rise to a level of 104.00 in Germany, in February, compared to market expectations of a fall to a level of 103.00. The Ifo business expectations index had registered a reading of 103.20 in the previous month.
German Ifo current assessment index registered an unexpected rise in February
In Germany, the Ifo current assessment index rose unexpectedly to a level of 118.40 in February, compared to market expectations of a fall to 116.60. In the prior month, the Ifo current assessment index had recorded a level of 116.90.
German Ifo business climate index registered an unexpected rise in February
The Ifo business climate index in Germany recorded an unexpected rise to 111.00 in February, compared to a reading of 109.90 in the previous month. Market expectation was for the Ifo business climate index to ease to 109.60.
Italian EU normalised CPI declined less than expected in January
The final EU normalised CPI registered a drop of 1.70% on a monthly basis in Italy, in January, less than market expectations for a drop of 2.00%. The preliminary figures had also indicated a fall of 1.70%. In the previous month, the EU normalised CPI had recorded a rise of 0.40%.
Italian CPI rose in January
In Italy, the final CPI recorded a rise of 0.30% in January, on a MoM basis. In the previous month, the CPI had registered a rise of 0.40%. The preliminary figures had also recorded a rise of 0.30%.
Swiss economic expectations index climbed in February
The economic expectations index climbed to 19.40 in February, in Switzerland. In the previous month, the economic expectations index had recorded a level of 18.50.
FOMC Minutes pointed to rate hike ‘fairly soon’
Minutes of the Federal Open Market Committee’s (FOMC) January 31-February 1 meeting revealed that many policymakers expressed the view that it might be appropriate to raise interest rates again “fairly soon”, should incoming US labour and inflation data be in line or stronger than current expectations.
US mortgage applications dropped in the last week
Mortgage applications dropped 2.00% on a weekly basis in the US, in the week ended 17 February 2017. Mortgage applications had fallen 3.70% in the previous week.
US Redbook index advanced in the last week
On a monthly basis, the seasonally adjusted Redbook index climbed 0.50% in the week ended 17 February 2017, in the US. The Redbook index had recorded a rise of 0.40% in the prior week.
US Redbook index rose in the last week
In the week ended 17 February 2017, on an annual basis, the Redbook index in the US registered a rise of 1.10%. The Redbook index had advanced 0.90% in the prior week.
US existing home sales climbed in January
Existing home sales advanced 3.30%, on MoM basis, to a level of 5.69 million in January, in the US, compared to market expectations of 5.54 million. In the prior month, existing home sales had recorded a revised level of 5.51 million.
Canadian retail sales (ex-autos) surprisingly eased in December
On a MoM basis, retail sales (ex-autos) unexpectedly fell 0.30% in December, in Canada, less than market expectations for a rise of 0.50%. In the prior month, retail sales (ex-autos) had recorded a revised drop of 0.10%.
Canadian retail sales unexpectedly eased in December
Retail sales unexpectedly eased 0.50% in Canada, on a MoM basis in December, less than market expectations for a steady reading. In the previous month, retail sales had advanced by a revised 0.30%.
Foreign investors remained net sellers of Japanese bonds in the previous week
Foreign investors remained net sellers of ¥141.20 billion worth of Japanese bonds in the week ended 17 February 2017, from being net sellers of a revised ¥101.10 billion worth of Japanese bonds in the previous week.
Foreign investors turned net sellers of Japanese stocks in the previous week
Foreign investors turned net sellers of ¥127.90 billion worth of Japanese stocks in the week ended 17 February 2017, as compared to being net buyers of a revised ¥175.80 billion worth of Japanese stocks in the prior week.
Japanese corporate service price index rose as expected in January
On a YoY basis, the corporate service price index in Japan advanced 0.50% in January, at par with market expectations. The corporate service price index had registered a revised similar rise in the prior month.
Japanese investors turned net buyers of foreign bonds in the previous week
Japanese investors turned net buyers of ¥48.20 billion worth of foreign bonds in the week ended 17 February 2017, as compared to being net sellers of a revised ¥294.10 billion worth of foreign bonds in the prior week.
Japanese investors turned net buyers of foreign stocks in the previous week
Japanese investors turned net buyers of ¥164.90 billion worth of foreign stocks in the week ended 17 February 2017, from being net sellers of ¥96.70 billion worth of foreign stocks in the previous week.
Chinese leading economic index advanced in January
The leading economic index recorded a rise of 1.10% on a monthly basis, in January, in China. The leading economic index had registered a rise of 0.80% in the prior month.
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